[ANN][FLT] Fluttercoin Ƹ̵̡Ӝ̵̨̄Ʒ | Proof of Transaction 3.0 | Update v0.7.5.22

[locogee]

any contact with supernet?

[changpan]

The interest rate for proof-of-stake is too large, leading to totally unfair, and should be less than 1% per year.

[slax0r]

pool working well so far, waiting for the first few payouts  Diff is nice and low too, expect some blocks found shortly.

Yep, first few blocks found.  If you would like to check the mining stats and such, go to http://us-pool-1.radicalether.com/tbs .

As for the diff, It is set up for VARDIFF to be adaptive to your mining power which Ive tuned such that it is more accurate than most other mining pools.

Do keep in mind that this pool is only temporary ATM and if it is continued beyond about a month, Ill need to migrate it to a more beefy server.

its better than other one for finding blocks
even though it small  its kickin bootylol

why can't multipool work like this slax?  This is awesome!
http://us-pool-1.radicalether.com/workers

Thank you.  I haven't mined the multi pool so I really can't say anything.  This is the pool server that I was building when Fluttercoin went off the rails and KidCoin bailed.  Glad to see it online and getting some use finally.

Basically I just took all the frustrations learned during a year of hard core mining and tweaked and tuned NOMP to not have them.

[CryptoToxicAvenger]

good job on da pool 

[ofeefee]

any contact with supernet?

Yes I contacted jl777, he was working through beta and additional debugging but would let us know.

[ofeefee]

The interest rate for proof-of-stake is too large, leading to totally unfair, and should be less than 1% per year.

This comes up a lot, but requires a hardfork to fix.  Until trading volume rises we run an issue where we may lose momentum if we cannot reliably have the network functioning because of a fork.

Pos is max 100% min 5%, variable based on number of coins staking.  Hbn, cap, tek, and many others employ a variable interest.  Personally this needs to be reduced, but for me I am using fluttershare to send 10% and possibly 25% of my reward to bounty which will help further coin development.  Hoping to have this released soon and others can do the same if they wish.  This may become very important should we be involved in supernet.  We have to acquire 10% of Flt.

Additionally PoS is a form of mining.  For some that cannot afford asics they can purchase Fluttercoin and stake it producing similar results.  I PoW and PoS on Fluttercoin both to good results.  Almost all my Fluttercoin was purchased.  And now you tell me I cannot earn more through staking?  That's no fun.

There is no unfair advantage, that is like saying NXT is unfair because it was premined, or for me to say blackcoin is unfair because I can't pos or pow it anymore?

The coin is fun to use, fun to mine, fun to stake.  You can't do this on many other coins.  Btc you mine, doge you mine, blackcoin, really neither now, nxt you pos gramtred you have LOTS of nxt, many others can do large pos.

Flt allows you to gain through multiple methods.  Price is real low, barrier of entry is small, return on investment is possible.  Network is good, multiple of exchanges to trade on.  Good community actively involved.

And edit...I looked up dogecoin, they have 92,333,000,000 coins, that's billions, and their price is almost identical to flt.  Now is a good time to get in and enjoy some PoS should it change in future...

[fanfare100]

@Slax0r

Good show on the pool.

I'm getting some occasionally weird errors though:

" [2014-09-16 13:17:13] pool 10 JSON stratum auth failed: [
   -1,
   "(2002, \"Can't connect to local MySQL server through socket '/var/run/mysqld
/mysqld.sock' (2)\")",
   null"
 

[slax0r]

@Slax0r

Good show on the pool.

I'm getting some occasionally weird errors though:

" [2014-09-16 13:17:13] pool 10 JSON stratum auth failed: [
   -1,
   "(2002, \"Can't connect to local MySQL server through socket '/var/run/mysqld
/mysqld.sock' (2)\")",
   null"
 

Hmmmmm.  That is super curious because Im not using MySQL for anything and the pool server doesn't use it either.  Its not even installed on that server.

Can you please verify that your "pool 10" is my server?

[fanfare100]

@Slax0r

Good show on the pool.

I'm getting some occasionally weird errors though:

" [2014-09-16 13:17:13] pool 10 JSON stratum auth failed: [
   -1,
   "(2002, \"Can't connect to local MySQL server through socket '/var/run/mysqld
/mysqld.sock' (2)\")",
   null"
 

Hmmmmm.  That is super curious because Im not using MySQL for anything and the pool server doesn't use it either.  Its not even installed on that server.

Can you please verify that your "pool 10" is my server?

You are correct Slax0r.  It is not your server.  It's one of the many pools I have on the menu that cgminer occasionally polls and appears to have been acting up.  Yours was pool 32.

But that is weird.  Why would a pool report such a thing?  I never knew that SQL was involved in any pools. 

[slax0r]

@Slax0r

Good show on the pool.

I'm getting some occasionally weird errors though:

" [2014-09-16 13:17:13] pool 10 JSON stratum auth failed: [
   -1,
   "(2002, \"Can't connect to local MySQL server through socket '/var/run/mysqld
/mysqld.sock' (2)\")",
   null"
 

Hmmmmm.  That is super curious because Im not using MySQL for anything and the pool server doesn't use it either.  Its not even installed on that server.

Can you please verify that your "pool 10" is my server?

You are correct Slax0r.  It is not your server.  It's one of the many pools I have on the menu that cgminer occasionally polls and appears to have been acting up.  Yours was pool 32.

But that is weird.  Why would a pool report such a thing?  I never knew that SQL was involved in any pools. 

It depends on the pool server software.  There are only a handful but most servers run an old bandaid patched server written in python called simply enough "stratum-server" which is most often front ended by an apache server that runs an equally out mode'd PHP package.  Both are tightly coupled to MySQL.  Also both were great for their time, but as you have seen; their days are numbered.

Sorry for the wordy explanation.  It isn't often that I get to rant about pool server software. 

[fanfare100]

Your rant is appreciated Slax0r.  Coming straight out of the expert's mouth!

Here's a memento from today's flutterblast!   

http://i58.tinypic.com/wa6jvq.png

Long live Fluttercoin!

@Slax0r

Good show on the pool.

I'm getting some occasionally weird errors though:

" [2014-09-16 13:17:13] pool 10 JSON stratum auth failed: [
   -1,
   "(2002, \"Can't connect to local MySQL server through socket '/var/run/mysqld
/mysqld.sock' (2)\")",
   null"
 

Hmmmmm.  That is super curious because Im not using MySQL for anything and the pool server doesn't use it either.  Its not even installed on that server.

Can you please verify that your "pool 10" is my server?

You are correct Slax0r.  It is not your server.  It's one of the many pools I have on the menu that cgminer occasionally polls and appears to have been acting up.  Yours was pool 32.

But that is weird.  Why would a pool report such a thing?  I never knew that SQL was involved in any pools. 

It depends on the pool server software.  There are only a handful but most servers run an old bandaid patched server written in python called simply enough "stratum-server" which is most often front ended by an apache server that runs an equally out mode'd PHP package.  Both are tightly coupled to MySQL.  Also both were great for their time, but as you have seen; their days are numbered.

Sorry for the wordy explanation.  It isn't often that I get to rant about pool server software. 

[Sancho]

Hey all,

I'm glad some folks have taken over the coin.

I'm having some issues getting my wallet to sync however. The wallet will start up but when it starts to sync, it hangs and crashes. I have not had issues with the wallet in the past.

Any pointers please?

Thanks a lot.

[imbecileee]

Pos is max 100% min 5%, variable based on number of coins staking.  

Got my first rewards to day!!!
30 days staking and for 550.000 flt I got 45.822 in reward!!
That's 8.33% in one month!! Very nice!!
When I got the rewards I see my coins are splitted in two groups of equal size, if I keep this two 300k chunks in my wallet will staking be lower than if I transfer it to another address in my wallet in one 600k chunk?

It will probably take you a little more time to stake since you will have two smaller blocks with each a smaller weight on the network. But this won't change the reward(%) you'd get from one big block.

[imbecileee]

Hey all,

I'm glad some folks have taken over the coin.

I'm having some issues getting my wallet to sync however. The wallet will start up but when it starts to sync, it hangs and crashes. I have not had issues with the wallet in the past.

Any pointers please?

Thanks a lot.

What version of the wallet do you have ? The latest is 0.4.5.11
http://fluttercoin.us/download/

When was the last time you synced your wallet ? Maybe you have some invalid blocks from a wrong chain when the network was forked. You can try to delete the blockchain and sync from 0 with the latest release.

-Start button (Windows)
-Search : %appdata%
-Open the Fluttercoin folder :backup wallet.dat
-Delete all files in the folder except wallet.dat

Run fluttercoin-qt

[Sancho]

Hey all,

I'm glad some folks have taken over the coin.

I'm having some issues getting my wallet to sync however. The wallet will start up but when it starts to sync, it hangs and crashes. I have not had issues with the wallet in the past.

Any pointers please?

Thanks a lot.

What version of the wallet do you have ? The latest is 0.4.5.11
http://fluttercoin.us/download/

When was the last time you synced your wallet ? Maybe you have some invalid blocks from a wrong chain when the network was forked. You can try to delete the blockchain and sync from 0 with the latest release.

-Start button (Windows)
-Search : %appdata%
-Open the Fluttercoin folder :backup wallet.dat
-Delete all files in the folder except wallet.dat

Run fluttercoin-qt

Thanks, I was just deleting the blk data and peer data files, didn't realize I needed to delete them all except wallet. Trying again, it seems to be working this time.

[slax0r]

Hey all,

I'm glad some folks have taken over the coin.

I'm having some issues getting my wallet to sync however. The wallet will start up but when it starts to sync, it hangs and crashes. I have not had issues with the wallet in the past.

Any pointers please?

Thanks a lot.

What version of the wallet do you have ? The latest is 0.4.5.11
http://fluttercoin.us/download/

When was the last time you synced your wallet ? Maybe you have some invalid blocks from a wrong chain when the network was forked. You can try to delete the blockchain and sync from 0 with the latest release.

-Start button (Windows)
-Search : %appdata%
-Open the Fluttercoin folder :backup wallet.dat
-Delete all files in the folder except wallet.dat

Run fluttercoin-qt

Thanks, I was just deleting the blk data and peer data files, didn't realize I needed to delete them all except wallet. Trying again, it seems to be working this time.

Welcome back to Fluttercoin!!

[CryptoGuy2014]

I am looking to sell some stuff for FLT, I would like to build more FLT in my wallet but do not have cash to put into it.

Is there a page for FLT only marketplace?

May be a good idea to create a page for that.

[slax0r]

I am looking to sell some stuff for FLT, I would like to build more FLT in my wallet but do not have cash to put into it.

Is there a page for FLT only marketplace?

May be a good idea to create a page for that.

I don't think there is something like that (yet) but it is an excellent idea.

[imbecileee]

Pos is max 100% min 5%, variable based on number of coins staking. 

Got my first rewards to day!!!
30 days staking and for 550.000 flt I got 45.822 in reward!!
That's 8.33% in one month!! Very nice!!
When I got the rewards I see my coins are splitted in two groups of equal size, if I keep this two 300k chunks in my wallet will staking be lower than if I transfer it to another address in my wallet in one 600k chunk?

It will probably take you a little more time to stake since you will have two smaller blocks with each a smaller weight on the network. But this won't change the reward(%) you'd get from one big block.

Thx, but will the % af rewards be the same again? 8.33%
What factors rule the % of the rewards?

The % goes down when more coins stay on and participate to the network instead of remaining on the exchanges and forfeit the rewards.

If the % of coins on the network collecting PoS doubles, the % reward will be cut in half.

In order to reach the minimum annual rate, 100% of the coins would have to be collecting the rewards on the network.

[ofeefee]

Pos is max 100% min 5%, variable based on number of coins staking. 

Got my first rewards to day!!!
30 days staking and for 550.000 flt I got 45.822 in reward!!
That's 8.33% in one month!! Very nice!!
When I got the rewards I see my coins are splitted in two groups of equal size, if I keep this two 300k chunks in my wallet will staking be lower than if I transfer it to another address in my wallet in one 600k chunk?

It will probably take you a little more time to stake since you will have two smaller blocks with each a smaller weight on the network. But this won't change the reward(%) you'd get from one big block.

Thx, but will the % af rewards be the same again? 8.33%
What factors rule the % of the rewards?

The % goes down when more coins stay on and participate to the network instead of remaining on the exchanges and forfeit the rewards.

If the % of coins on the network collecting PoS doubles, the % reward will be cut in half.

In order to reach the minimum annual rate, 100% of the coins would have to be collecting the rewards on the network.

I actually saw the diff raise a bit on pos and interest lowered as it should, means more staking going on, this is a really good sign!